Maharashtra targets MOUs worth Rs 7 trn at WEF, CM to lead delegation

The Maharashtra government has set a target of signing Memorandums of Understanding (MoUs) worth Rs 7 trillion at the upcoming annual World Economic Forum (WEF) meeting in Davos in Switzerland, a senior official from the state Industries Department said on Thursday.

In 2023, Maharashtra signed MoUs worth Rs 1.37 trillion, while in 2024, MoUs worth Rs 3.53 trillion were signed, he pointed out. "Maharashtra and Tamil Nadu are the two states in the country with the highest conversion rate of MoUs.  This time we have raised the bar and plan to achieve an 80 to 85 per cent conversion rate," he said. The WEF meeting will be held from January 20 to January 24, and the Maharashtra delegation will be led by Chief Minister Devendra Fadnavis.  The Maharashtra government has also set a deadline of March 31 to execute the maximum number of MoUs, he said.  The industries department reviewed the outcomes of the last two WEF meetings and the challenges faced while converting MoUs into investments, and this will help improve the state's approach and rectify any mistakes it at all, the official said.  Incidentally, the opposition had last year demanded that the government publish a White Paper on the MoUs. While then industries minister Uday Samant had promised in June 2024 to come out with a White Paper, it has still not been done.